Question: 1) The MAD for Method 1? = thousand gallons 2) The mean squared error (MSE) for Method 1= 3) The MAD for Method 2 ?
1) The MAD for Method 1? = thousand gallons
2) The mean squared error (MSE) for Method 1=
3) The MAD for Method 2 ? = thousand gallons
4) The mean squared error (MSE) for Method 2=
Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons: Week 1 2 3 4 Forecast Method 1 0.95 1.02 0.95 1.22 Actual Demand 0.68 0.98 1.00 1.04 Week 1 2 3 Forecast Method 2 0.82 1.21 0.92 1.17 Actual Demand 0.68 0.98 1.00 1.04 4 The MAD for Method 1 = thousand gallons (round your response to three decimal places)Step by Step Solution
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